Understanding and using the New Hud Good Faith Estimate.

Tim Bradford
Lending Specialist
216-324-8113
OHIO LO.007173.000
NMLS 250013

Generate a Loan Worksheet with Fees, Costs, Cash to Close and Payment ONLINE NOW

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Introduction to the New GFE

Detail and Notes
Second Page
of the GFE

Create a Custom
Fees Worksheet

Understanding "Your Origination Charges"

Summary
and
Shopping Grid

Shopping Grid

Trade Off Calculator

HUD's Official Website

New GFE form

HUD Guide to
Closing Costs

Links and Concerns

Other Information
Websites

Ohio203K Loans

Cost of Renting
in Ohio

Mortgage Loans
in Ohio

Find
Northern Ohio
Realtors

Reverse Mortgage
Loans in Ohio

Comparison Calculator
for Different Interest Rate and Closing Costs




In this GFE, we offered you this loan with a particular interest rate and estimated settlement charges. However:
If you want to choose this same loan with lower settlement charges, then you will have a higher interest rate.
If you want to choose this same loan with a lower interest rate, then you will have higher settlement charges.
If you would like to choose an available option, you must ask us for a new GFE.
Loan originators have the option to complete this table. Please ask for additional information if the table is not completed.
Term of Loan (In Months)		(this field can be set between 120 and 480 months)
How long do you expect to Live Here?		(This Field can be set between 1 and 480 Months)

These Calculations assume Closing Cost Difference is Paid in Cash or Not Required
	The loan in this GFE	The same loan with lower settlement charges	The same loan with a lower interest rate
Your Initial Loan Amount
Your Initial Interest Rate
Your Initial Monthly Amount Owed
Change in Monthly Amount Owed from this GFE	NO CHANGE
Change In the Amount you will pay at Settlement with this Interest Rate	NO CHANGE
How much your total estimated settlement charges will be



Cost of this Option	n/a
Payments over Life of Loan

These Calculations assume Closing Cost Difference used to adjust your Loan
	The loan in this GFE	The same loan with lower settlement charges	The same loan with a lower interest rate
Your Initial Loan Amount
Your Initial Interest Rate
Your Initial Monthly Amount Owed
Change in Monthly Amount Owed from this GFE	NO CHANGE
Change In the Amount you will pay at Settlement with this Interest Rate	NO CHANGE
How much your total estimated settlement charges will be



Cost of this Option	n/a
Payments over Life of Loan

Questions, comments, or suggestions? Please contact me: Tim Bradford, American Midwest Mortgage Corp. Telephone: 216-324-8113 Updated Thank you for visiting GFEforDummies.com!
Tim Bradford -- Ohio MB.803389 -- LO.007173
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